Algolia, the world’s only end-to-end AI Search and Discovery platform, announced that it has been named #46 on the Forbes 2023 Cloud 100. This award marks the second time Algolia has been ranked on this prestigious list. Algolia’s selection was fueled by its recent launch of Algolia NeuralSearch™, an industry-first AI search engine that combines vector-based natural language processing with keyword search, powered by LLMs, and offered through a single API. The Forbes 2023 Cloud 100 is the definitive ranking of the best and brightest 100 private cloud companies in the world, published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures.
“We are thrilled to be recognized by Forbes again for our market leadership, growth, innovation, and strong culture. This award is a great testament to our commitment to pushing the boundaries of Search and Discovery innovation. We are delivering cutting-edge AI search solutions that revolutionize how businesses serve and engage with their customers, especially in retail,” said Bernadette Nixon, chief executive officer, Algolia. “The Algolia team thanks Forbes’ impressive panel of judges for acknowledging these breakthroughs and our incredible team for their relentless pursuit to make these achievements possible.”
The Forbes Cloud 100 accolade is one of several industry recognitions Algolia received this year for its innovative technology. Most recently, Algolia was named a Top 10 Power Player on the CommerceTech Power List presented by Bain & Company. The company also received 17 badges on G2’s Grid for Enterprise Search Software, and Algolia NeuralSearch was selected as a finalist in Ventana Research’s Annual Digital Innovation Awards.
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For the eighth consecutive year, the Cloud 100 reviews submissions from hundreds of cloud startups and private companies each year. The Cloud 100 evaluation process involved ranking companies across four factors: market leadership, estimated valuation, operating metrics, and people & culture. For market leadership, the Cloud 100 enlists the help of a judging panel of public cloud company CEOs who assist in evaluating and ranking their private company peers.
“The companies of the Cloud 100 list represent the best and brightest private companies in this crucial tech sector,” said Kenrick Cai, the Forbes editor of the Cloud 100. “This year’s companies had to react rapidly to AI’s sweeping impact while contending with a market pullback. Their resilience puts them in elite company. Congratulations to each of the 2023 Cloud 100 honorees and the 20 Rising Stars who are showing early potential to one day join their ranks.”
“This year’s Cloud 100 list is one of the most dynamic in history. While the industry faced macro headwinds, the 2023 Cloud 100 winners displayed the innovation and resilience of the cloud economy and the combination of growth and efficiency that prove the power of the cloud business model. 95% of the honorees are forecasted to reach Centaur status — $100 million of annual recurring revenue — by the end of the year,” said Mary D’Onofrio, partner at Bessemer Venture Partners.
SOURCE: Businesswire